Charfty r•gl$tratlon nurnber 1037430 Company rogl•tr•tEon nurnbor 02919404 (England #nd Walasl ST ANNE'S HOSTEL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
ST ANNE'S HOSTEL LEGALAND ADMINISTRATIVE INFORMATION Board Mr S W Morgan ICh?Irmanl Mr J S Martin Mi P S Hlgman Ms P C Shepherd Dr A Passmor• M6 E A Millèt Mr S Sharma MS Caroline Naven Mr tJ8vid Kinnalr M$ O HaTrl$ Sorrgtsry M$Amanda Trappett Chorfty numbgr 1037430 Company numb•r 02919404 Rogl$tor•d offi¢p 112 Mo8el8y Slreel Ighgale Blrmingham We81 Mldlands 8120RY Indepèndent examlnèr Jenoms Lum8nerl House 1he Gale Blythe Valby Park Solihull WeNI Mldland$ 880 8AH
ST ANNE'S HOSTEL CONTENTS Page Board report St8tsrnenl of Board respon6lblliligS Indep¥ndgnt 8X8mlngf8 fepcrt stalernonl of financlal a1118$ Balance sheet 9.10 Statement of c48h IksW8 Nfjt to th¢ fingnclal slatomenl8 12-23
BOARD REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Th6 Boaid prè¥ènt thelrannual report 8nd finanthl $tatement8forth8 )wr endèd 31 M•rch 2023. The &cc¢unts hav• boonpreparod Inac¢ordon¢•vAththe aeKounYngpolicloJ88toul In nots 1 tothb Rcce
nd comply ¥Ath th• clwrfty4 mom0MUM ortd a81 018880cl8kn, thè Cornperd8s A¢t 2008 ond lh•
alement of Recommènded PracUce,'Aceountlng and Reportlfig by Chorflles" Issl in January 2019. ObJ•¢tlveo Ind actlvlll The obJectlv6s ars thè provl¥lGn of 8¢cwnm¢iJ&tton in the dty of bimiingham frjr 6lngl• lTh)eleBS mon vtho
ra pn>vldèd 01$18t8n In r8sdO6mwrtln the communty.
The Board have pall duo to quldonc4 lswod by tho Ch8rfty Camml¥•lon In deddlng what aetMOe# the charity Should undertako. R•nt PollGy The cornpanY8 poIIGy1810th8ryJ8 rent at18vel8 thal are affordable srKI rnfiecttho quèNtydaccomMod8Uon. manogement gnd oupport prov1d. Tho Pno of Bffordbla rnnts 18 to oncourap r¢ddontè to ffnd employmont ond gsc4p•.from th• eulturn of stats bonefits. Tp •nBbl• et>Mpary tr 8cfvl•v• th18, the Mnt l•vals at 8omo of N¥ exlBUng and new propoTY•B whlch are u89d for movMn aocomrnoilotlon have b reduc4d or 8¢t at a lower leyet U)on those whern Inten81 support Is provided. The69 wlucod rentlgv haw not afftttod tho qlOfthts 8c¢ommod8Yon pwded. Lofig t•mi •to¢k nlenant8 r•p&lr poll¢y The comwnl8 lleY IJ to m•irth Ito hO1n od( to the hlqhgBt pMlblo ItdNI•. thoroby ensurfng both staff arKf ro8ld¥nt iofoty. E8ch fln¥ncl8lyeara dotallod pl4nlsdrafft up, %sth1¢18 Inclu¢lod Inthel)udg9ts. tocarryrArtthewortd8t811ed and thls IB rnosdtored by senlor manBgemenl to ¢n8ufe 811 Approprfats rep8ifS are cth•d out. Gon8ral repdrB aroc8rThpd ¢)uton a day-tg-day t4swhon nwl•d. Tha Compa m9n¥or li rF¥pond for •n5Urtng that rOlr9 8T8 Idèntmed And carrfèd whèn nO•d th• p8rfom1an& of L¥Jntra¢tm l• nstantly revlwd to •n$uth9 c¥>rnp8ny gohljvwvaluè for rnon. Re•erves pollcy Th• Board tve adomed lh8 pdlty tsf putting fund8 Into è designated rp8èrve end of the de6tgn#led re6erw 88 roqulrod. The dIrectO ¢on$lder that the company h#B ffiCIent au6ts to m¢et gbllgattorn 8B thoy 8rtw an dgntttsd and nO. Tho Dlroctcr• ore of th• oplnlon thet lh• ng8rl for & d•8lgngte(I rw• h¥ dimw191} 08 9 01 8uI)tstsnllo1 I1 and m8lntenan¢o 6pondttLtyP. The Cornpayty Ims d•dded nct top up the uydltl mglnlengnre reggrvo from 98wal M8erve8 thi6 ye8r. Th& lavai rf•lMI noad forlha dgrAte r860rv8 wlll )nnl0 b8 a814$8ed e*ch year. A¢h10m•n •nd porfoTrn•nc• SIAnne's lo Invost In IIB fadtstses durlng th&ygsT und has8¥8&fUllY rnalnts1n tho quBIty ofKs proviBiOn for 88rylc¥ U$gTS gt 8 time whore fundlng 1$ con8tralned. Thè Company h85 continuod to PTogr pl8ns for the dgvdopm8nt af fts dJ¥elopment 8W vAth tha F4an8 tr thg dovgloprnwrt ill• aqreod qnd the annInll appllcauon undèrnw. A••M•m•nt ofhvwth• RP h •chI•¥I v•lu•formon8y The 8oatd r•cognb8B tha Importants of wnnlng tho charity in 8 bUsIn41k0 way in to maxmwo the •V8lloblg lo Inve81 In the BeNlcos provtd&J to re81dent8 who 8re atlho cenlmof 1 Ihal we
¥eak to do th[8 by workng fogelher wlth Hknmlndod ¥upptth ond contradorn. They hgtp UB ddfver s8rvieéBlnBmt)r8 COBI.8ffedi¥6 Bnd efflolontW44y byworklTrg coll8tsvadvety to off8rioln•d up 8oluUbn8whlch ero moro Innovjtlvo gnd Ixtt•rlarg6tad. Bywknngtogothoran(l thldng •WII$ 8nd WèC4n JD•k lo achlovo mo We con81arty rovlew ourwl¢k6 and opor•U0o 8n8urg wo ach¥ègraat8reffieftdaB 8rtd dèlfrv$10 to our rB8Jdpnts. Sl Anno Hotht h98 prepAr•d th8 groundwort to report 898ln8t qn agread 8¢f ol m•a8UTOa for Valup for Money, th&1 w8rg roqulrod by.R¢gulator.for •1 H¢uBlng (R6, Sl Anng'j Hostd can offer thb lollthvlnll Infomi#ffonfor VFM mghtQ8 forth# wr ond March 2023.'- 2021122 ReInVtr0nI % 5.8% ' MI 8xponaitttr• 8Th1 pr•pgraUon for nwBulkl, (Flxed A588tidIu0# è8 8 I POTGÈnlage oftotsl fixed ass•ts at Ihe end of thè WiDd) New supply18ocl8114ouolng un&) (Soctal unltA doveloped, acqulFfjd or leo1 In-y8gr a8 8 pwronfag8 t)fTLtsI 80d#l unlt8 It lh& erKI 011 i)w(od) No 80dJl hou vhlts ddfv•rod Inyear. 2b ' Ntsw Supply INI)trAodAI Heu8lng UnSts) % {Non-Soclg1 unllo th8lopts. Acqulrèd or I8¢d In-year as a ptrrcefitagè ofTotsl 80ci?l IocIal unl1¥ atthg end of the ¢rf¢)dl No 01 houthg wl dollv4r•d In yoar. earfng % Rèdudlon In cash duo to op8ratrig10s9. 2.1% Short and long m loans and ¢aBh equlvaleni# a P¢T¢¥ntago ofTAnglblts fixed eBITDA MRI IntOT¢Bt Covpr % Op•rdng •wplupj(defiol) Plu8 Gilnl{10081 Oh d1$p1 bf fflxad 447,7% 115.8% Capltaliatd Intérost and Ihtgrnst payabl• ancl In8Rein9 Eo¥Is. .. Hq8dlln• SD¢tal Tr11ng Coot£ Mwall•monl ¢ortfor•odg5 hBI #nd ho•tol accommodatlon gra nol 8eParnt¢Fy Idenufted. nlo
I Op8rallng Margln (8o¢lal | hIngtOn98) % SuryAu8 aflrtbutsble lo [91 hou8lw not separal8ly Idd. 6b Operailng Maryln (¢51) % .2% Opernbng108o gnd Impacl of addthnal (rnddllgn RotUTn on CèpltAI EM0Yed -12A% los5 And ImpACt of 1 8ddMlon81 doprgdAYon .0.2% FlnAn¢ial rgvlvw Thb re8ults lor tho yw8lw a defldt of £83,481 (2021-22 dt01£983. The dofldtlj i reBuII of 11 opornung condltloftj, 1h Inmo¥d 88 a of Bplr•lllng emrw prtcts and LWI of Ilvlng Incr•e for 8tallthldTr we hove bgen unthe to matchwhh inc¥eased ch8rge$ to T¢dOn15 or thè Cty Counul lthich ha$ cpped hOlg ben81 Inc¥•a9aS to b&low Ihe rats of infidtion). Those In8 c99ts together v41th 8ddMlonal depredallpn reldtlng to fh8 novly a¢quId Park Mew 8ccommod8tton aLwunt for the defr¢h for the y8ar. Added to Ih98& infi4tlongry pr8B6ure8 hHs be8n Ihg City Cwndl's fl8vKd of pttlld88 dgolgnwj to fvnding for •nhan¢&d oupport whlch h88 not baen dollvernd by Dome proerB. SI. Anne'8 ha8 14c•d unr6a8onobl• dthb•c% ot fvndlng d• balng ong of a of provldgrj who chl#v•d a¥(1&u0n through th• Coundl'B own quaNty Italord& schème. Thg Comp8nyvlll, a8 It h96 do in every previol yeor, alm to lei8 br8ak4vèrn ldget ftrturo y48t¥. In oddwon, the Dlr¢ctorg belrtg mlndlul ofthevagart68 of the Clty Counc41tsftJndlng and polld89, have 8nl8rnd Into wSth ¥thaT provkieT to thelr ofoup olJu¢ture in orthr to streng1h th• Compgnlj flnanraol MJ8lll•nc•. tr• dllw¥•4oM bn ouoc486M and Ihg wp arrangtm•rt8 Ylll b8 In ple by Iho •nd oftha 2023rd4 flnand81 y•w. P14n8 foTfutsb¥ pfrrlod Tha CompAny (£4lnu89 to progressth8 plaMln9 apws(on for118 dw8lopmont altè. 8ctUT•, gLw•moncfj •nO mBn•g•m•nt The compary hllmitad byguayantaé 08tsbll8herl Ur0T ComnI0A¢10nd a Ragl8t8rod Sod41 HoLn9 Provtd6r und8rlho HouBlng And ROnon Ad20DJ. Th9 8od, whowg 918Oth8dlrtetots for lh• purpDS8 olcompgny lew. 8ndYtho 8eNed durfng thgyearwwo.. r S Wmorgan IChalrm•nl MrJSM9n MrP S HMIn MI P C Shgphwd DrAPa6$mor• M¥ E A Mlllet Mrs Sharn Ms Cirdino N4v•n Mr D•vld lQrnolr M$ D Hants Tho 8owd arn $pp)Int8d w>xrdanoe th the athe 0fa680c4a1i. Nonè oflhe Bowd has any bonaftdd IntW•8t In thg company. AJI ofth• Bo8rd •r• momb8rn of thè ¢oMpany and 9uttrgntso b] ¢onfrfbuto el In tha •v•ni of 8 up. Promotlno tho 8U¢¢ oftha cornpany The Brjwd ¢on6tderth8t tho current rtsk $tr4tegy and 4Me$wngntaTrg•mart$ are ¥uffiderrt Its &ddTth major r18ks to vthich the compAny Is ey4)08ed. bul arn ujrrnntly ing oWed.
Thè Board Raport was approvod by the Chalrrnan ofthg Board. MrSWM¥
ST ANNE'S HOSTEL STATEMENT OF BOARD RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 Thé B¢grd. who ar£ also the dIreor$ ol St Ann8's Hostel for the purpos8 ol compary law, are re$ptsnsible for preparing the Board Report and the financial 8lalemÈnls irt aCran wlth appli¢abl• law and United Kingéom A¢¢ountlng Slandsrd5 Iunlted Klngdom Gonèrally Accepted Accounting Praotlcg). Company Law requires the Board to prepafe finandal slal8monl8 for •ach finpnc1al ytrwwhlch gN8 a truè and falr vièw of tha statè L)1 dff8irs ol th8 chArily and of th¢ IncK>ming resources and appllcallon rf SOulCe8, Includlng the income and expendilure, of lh8 charilable company for that year. In pieparing these financlal slalgmènls. the B¢afd are Fequlred lo.. 6elBCt $ull8ble a¢¢ounllng poll¢l•s and then apply Ih$m ¢on$lsl8nlly'. - observB Ihe methods and prin¢iplg8 in the CharKl8s SORP,. - make ludgom8n16 and estimat Ihal are rga$onabla and prudenl.. 818tg whelhor applleable UK Accounllng Standards have bèen follow¥d, suble¢l lo ony matsrfal departures disdD$ed ané oxplglned In Ihfr llngn¢l818181gm¥nl$'. and prepare the frnandal slolernenls on the uolng concem basls unles8 It Is inapproprlale bj PTEsume Ihal the ch8rty will continue in operatitsn. The BoaTd are respon8ible for keeplng adÉquatÈ Son11n9 records Ih8t disclose wlth Thasonable accuracy al any Ilmo the flnancjal p08111on of lh8 ChalY and enable them lo gn8ur8 Ihol thé flnan¢lal alAl6mant8 comply wllh the Cornp?ni8s Act 2006. They arg al$0 r•sptrnslbl6 for 88feguarding the 83881$ of thè clority and henco for taking reaBonable 81eps for lh8 provenllon 8nd delgcllDn of fraud and other lTregularltles.
ST ANNE'S HOSTEL INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF ST ANNE'S HOSTEL I report lo the Boaril on my axaminallon of Ihe financial st•lem8nls of Sl Annè's HDStd Ilhe charity} for the ye6r ended 31 March 2023. R•8ponslbllllte8 and bag11 ol rèport AB the Board ol the charlly land 81s0 115 directors for the purpo$os of company 18w} are re5ponslblo for the preparation ol the financlal slalements in ?Gcordanc£ wth the requirem•nls ol the ConnBnles Act 2008 Ilhb 2006 Act}, Haftg satisfigd mysglf th81 the Inanaal 6lalemenl8 ol the Charlly ar& noi requId lo audlled under PArt le ol the 2006 Act and are efiglble for Indop$nd8nt exgminalion, I r8PQrt in respect ol my eomlnallon of the ¢hgrily'5 financlal statements carrled out under 8ecllon 145 of Iha Charflles Act 2011 Ilhe 2011 Actl. In c8rrylng out my •xamlnation I have followed all thè appliG8ble Dlrections givÈn by the Gharily Commisskn under sectlon 145{Sllbl of thè 2011 A¢t. Ind•p•nd•nt •xamlnerf8 8tatamBnt sIn the char1t$ gr088 Incom• 990d £250,000 your ex8mSnar mu81 bo 8 memborof a body Ilsl8d In $e¢tion 145 tsf the 2011 Act. l o)nfirm that l arn quallfiÈd to uF)dertoke th8 8xaminalion bU8¢ l am a momber of A6Goclallon ol Chartèred Cortmad Accountants. whlch18 one of tho listed bodies. I havè complotsd my axamlnatlon. I confirm Ihal no mattèrs havfj ¢orne to my attenfyjn In connecllon wllh th• examination giving me cause lo bÈllÈve thèl In any material respect.. acGounling rewrds were not kapl In SpeCt of the charlty a$ requlred by $8¢llon 38001 thè 20&8 Act., or Ihe fln8nGial $l818m8nt8 do not awjrd wllh those record8', or thÈ flnanelal stalernents do not cf)mply wtth the 8G¢ounUng requtrements of secllon 398 ol lh¢ 2006 Act other than any requirement thal the accounts give a true and fair view which is not a mattsr consldered as part of an indèpèndent examination,. or thè finaneial statements have not been pr8p8r8d In accordance wllh the melltyl$ ond prin¢lples of th• Statement ol Rocomtnendéd Pr&clice lor auntInG #nd rèporting by charities applicable lo charities prép8rino thelr accounlg in &ccordan¢¢ wllh Ihg Flnancl81 Reportlng Sialléard •ppll¢ablo ITr Ihg VK gnd R8publi¢ of Ireland IFRS 1021. I have no ¢oncwns and have como acro85 no oth¥r mgtters In conneetion with the eX8nation tv which att¢nlon ¥h d be drawn In Ihl$ réport Sn order to enablg a proper under$18ndlng of the financlal 1gmenls lo be Teached. lor RIGhafd Alon Horton ,thartorod Certiri•d A¢¢ountanl Lumaneri Hou¥9 Btythe Galo Btyfho V811gy Pork Solihull We$1 Mldlonds B90 8AH Dated.. !":
ST ANNE'S HOSTEL STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 UnreBtrloled Rfr8lfkted funds funds 2023 2023 Total Unre81rlcted Re6trSct8d funds funds 2022 2022 Total 2023 2022 Noles ncome and Èndowments fiom.. Donations and leg8cles Charilable •clwrti¢$ Other Inc¢m¥ 27,766 647,443 1,938 93.756 121,522 647,443 1,938 16,820 661,650 1,382 103,446 120.26e 651,550 1,382 Totsl In¢omÈ 677,145 93.756 770,901 869,752 103,446 773,198 dlturè on.. ChaTltabl• actlvjtles 726,724 107,658 834,382 689,186 85,025 774,191 Net outgolng regour¢o¥ bgfor tr4naf•Yg 149.5791 113.9021 {63,4811 {19.4141 18,421 {993} Gro$s tr8nsfèrs beiweèn nd8 15,860 (15,6601 Net xp•ndlture for thè y•arl Net movèment In tund¥ (33,779) P9.7821 183,4811 (19,414} 18,421 19931 Fund balances al 1 April 2022 204,575 181,008 365.583 223.989 142,587 386,576 Fund b#l*n¢•• •t 31 March 2023 170,8S6 131,248 302,102 204,575 181.006 385.583 The slalemenl tsf fin8nclal activllle8 In¢ludès all galn$ and lossès roGognls8d In the y&ar. All Iricome anfl expendfture dèrlvg from conllnulng a¢lMtI•8. The statément of financlal acllvS1ies also tA)mpllo$ wlth Ihe requiremèftts for an inwme And tsxpandSluro ?co)unt under the Companles Act 2008.
ST ANNE'S HOSTEL SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Gross Inm& 770,901 773.198 Tol¥l expend[tU fwm Income fvnds 834,382 774.191 Not •xp•ndltur• for thè yé$r 163,4811 19931
ST ANNE'S HOSTEL BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note$ Flxed aB8ets Tangible a88els Granls 1,573.996 11,163.648) 1,552,495 {1,125,9841 10 41D.348 428,531 Curr•rtt a•••ts Dèbtors Ish pl bank And in hand 11 47.84S 181,482 39,702 208.242 209.327 247.944 CrÈdltors: amounts folllng duo within one ygar 13 1117,e441 168,5311 Nel ¢urrenl a$$els 91,883 159,413 Toiol ass#l8 1089 eurrnnt Ilabllltt•$ 502.031 $85,944 Cr•dStorn: 4mount• falllng du• &ft•r moro than ya•r 1199.929) <220,361> N•t agsets 302,102 365,583 Incomo fund• Reslrlcted fundi Unréglrlctèd IndS Designalgd lund6 G6n?r81 unrastricled funds 16 131.246 161,008 ie 14,044 158,812 14,044 190,531 170,658 204,575 302,102 365,583
ST ANNE'S HOSTEL BALANCE SHEET (CONTINUED) ASAf31 MARCH2023 The company 1$ to th8 exempfjon frDm Ihg Judit requlrernenl rxjntalnad In s8Gtton 477 the Companlg$Act 2006, fortho yoarended 31 March 2023. Tho Board acknowlodge thelr rwonsibilwes for on8udng that fhe Eh8rtty kegP8 8c¢x)unlJno record8 whlch comply wllh 58obon 388 of the Act and for pr8paring Iln8nokl etstgFn&rnts Ythlch gfve a fnJ• and fèlr wgw of the stai8 01 aff3lYs of th¢ company &5 at the end of th• 14nanc481 y¢ and of Its Incoming f950urcos and appllcalSon of resour, lTrcludlng Its inLxJme ond &xpendItsj, for th9 finan14al yoar In accotd8nc 1th Ihe r•quirement8 of 80¢tiO 394 ond 305 and whlch othetw188 txjmpty Trth the quIrernOThts of th8 Comp8nles Act 2006 relaltn9 to fln8n¢lo18tat6monts, 80 far 88 appllibl8 to the ¢ompsny. Tho members hov8 not requtrod th8 MpanY to (thln #n audll of Ingnctal 8latsm•nts for tho yur In qub81lon In a¢¢ordonce wth 6e¢tion 476. These finan¢l818t4t•m6nts bo8n pr8par8d In accordanco wTrth th8 pfDvL4lon8 8ppIIc8ble to compon1 Bubl&ct to th8 small COTnpan1&8 wim8. Tha fin*ndal stat•ments were 8ppmved by ihts Bosrd on 17 November2023 Mr S W Moili Tru•t•g Company rogl¥trallon mumb•r 112919404 io-
ST ANNE'S HOSTEL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Nots• Cash Ilow8 from op•ralln9 aGtlvltl•8 CaBh ganeraled fr¢mllabsorbed byl operations 21 22,740 18,7411 Inve8tln# aetlvltles Purcha$• of tangible f4xed assets Grant8 recglved Release ol grants 187,6281 11,362.2381 1,004.812 37,684 Not ¢a$h usèd in inv•sllng a¢tivltles 149,944} (357.428} Flnanelng actlvlti•s Pro¢8ed5 01 now bank loan8 Repayment of bank loan8 260,OIX) {8.7701 119,6581 Net ca*h lusod Inllyènorated from finarnelng actIvI•S 119,5581 241,230 Not doGr•i•o In 8h and ¢#gh oquival•nts {46,760) {124,93n Cash and ¢ash aqulvalents al b8ginDlng DI year 208,242 333.179 Cosh and 9h equlvalènts at end of y•aT 161.482 208,242
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 A¢countlng pollcles Ch•rlty Inlomltlon Sl Annb's Host81 56 a prtV81e cornpany Ilmlled by gusrgnlee IntorpDratod In Engl8nd and Wale6. Th registered offi¢• is 112 Moseley Street, High9ale. Blrmlngharn, Wosl Midland8, 8120RY. 1.1 Ac¢ounting Gonvgntion The assoclatlon is a registered charSly, a company limitèd by guarantee and a Regi81èr•d SoclAI Housing Provldgr under th$ Houslng and Reg8neralion Act 2008. The flnan¢lal slal8ments have been pParad In aGcordan¢s w5th FRS 102 'Th8 Flnanc141 RÈportlng Standard applicable In th8 UK and 'Rèpublle of Ireland I FRS 1021. Tha Statement of R?commend¢d Practice.. Accountlng by R&gl8t6r¥d Soclal Hou$lng Provlders (Updatè 2018) and with the Attounling Requlrefflenl for ReglBlered Soelal Landloril$ General Detemilnatlon 2019. The accounts afe prepared In sterling, wNch Is the fvndltsnal currency of the chwtty. Monatary 8mounls in Ihej? flnènclal 8lalemenl$ 818 rounded lo th$ n$ar8st £. The acttDunt8 have been prgpgrgd undor tho hlstorlcal ¢ost convenllon. The prindpel 8¢CDunting pollcle6 adopted are 891 out bèlow. 4.2 Qolng ¢onc•m The Board hgve revlewed lh8 cash p¢8lllon and forecasts and belleva Ih9y hw• $uffi¢l•nt r8s•rv88 10 etsn15nue Irodlng lorlhe foreseeable lulur8. 1.3 Charltable fund8 Unre511ieted funds arts avallable for u$t al the di¥¢retlon of the Bogrd In furtlwran¢¢ of Ihelr ch8rttable oblècllves. Rg8liicl8d reseN8s aro those reserves whl¢h are only expendablg In ac¢ordqnL with th• wishès Of lh8 lunder or rngulslory bpdy. Re8lrfGted r•s8rve8 include lund5 Nl8Èd In r8SPODB¢ to 9 3poclflc appeal. Expenditure cannot b8 dirvolly Set a9olnsl re61ilcted rgsaNe8 bul Is taken Ihrough thè in¢om& and expenditure Bccounl. A tran8f8rfiom restricted resetves is then madè as apprtspria. Endowmént frjnds are 8ubjed to spfiC wndlll5 by donors that the capltol mval ba malnlained ty the charlly. 1A Infjom• InGome Is r#wni5ed when tha ch8Tity18 legally enlllgd lo It after any pèrformoncendl1lOns have been met, tho amoiitils ¢an be rn¢a$ured reli4bly. and 5t 13 probable that Income 11 ba reeived. CoBh donations are recogni$ed on reeespt. Olher dvnatlons are rg¢0onlsod onc& thè ¢hgrlty has been nolM8d of the dcaon, unle88 perfom8nce condlllon$ requlre defgrral of tho #mount. Houslng bonpfil ov8r payment8 have been dèf8Thed to the ngxt yegr whgn Ihpse over paymènts wlll bè sertled agaln81 other clalm8. Turnover ropr¢senl$ rental and servi¢E charges income receivable In the year nat of T¢nl ond servlce char#È8 losge6 from vold8 and revenue grants. 12
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (GONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Ac¢guntlng pollclg8 ICtsnUnu¢dl 1.5 Expendlturo Expenditure 18 recognl6ed one• there 18 0 18gol Dr conslruct5ve Dblig#tlon lo tr8n•fer ecDnomlc beTh8fil lo a Ihlrd paty, 11 Is probable that a Iransfer ol economic benefits wlll be required in 5atlBmenl. and thè Amount trf the obligation ran be méÈsuréd ieliably. Expendillwe 1$ ¢la$slfle4 by aellvity. The cost6 of each actlvlly are made up ol lot81 of dlrect costs and 6h¥r•d ¢0818, Including 8upporl cos18 involved in undgrtaklno Ooch aotivity. Dlreot COBtB attribulabl• to • slngl8 aCtItY ar0 alloc41od dlrectly to that acllvlly, Shared cost8 whlth cpnlilbulg lo th8n ong actlvity an(t support Costs whlch are not attrlbutablè to a singla activity 8r• apportioned befv488n those actlvltl•s on a ba$15 consistènl with the UBe of resources. Central stafl co$1$ aro ¥lloc8t8d on th¢ b8sls of tlm¥ $p8nt. and dgpreciatTon ehargès arè alknled on the portlon of the asset's uso. All axpendilures are aOUnted for on the aeLruals b•$is. In partlcular, the cclls of charil&bl? 8eltviti88 r•pr686nts all co814 of the d)aTrty èxcludlng those 8ppolnled lo qovornance co¥ty. Wnero c0616 cannot be dlr8cily attributed lo partl¢ul4r headings théy hav• b•8n allochted lo acti*ilie¥ on B b•sis conslBlenl wlth use of th• r88ourc•6. 1.6 T•nglblg fixed Agsèts Deprecl8llon Is reGognlsed so as lo write off the co81 or valuallon of Assets less thek r8sldu81 value8 over Ihelr useful liv9$ gn the followlng bas8s'. Freehold property Leasehold prtsp8rty Freehold imprtsv6ment5 Fixtu3, ffttino¥ & gqulpmènt 40 yeors slralghl line 15- 30 years straight line 1&30 years $lr8ighl line 10- 25 y88rs slralght Ilne The gain or106$ 8rl$ing on dlsposal of on BBsg1 is delermlnad 88 the drfTerencè befvleen the 8ale PToce8d$ and the ¢8rrylng value of th8 88Sèt, and16 recognI8ed In the s1o16m8ft ol ffnanclol l118s. Freehold Improvement relaleB ttTr Park vlfw. These eo$l$ waro incurred prlor to acquwing Park View. 1.7 Imp)Im10nt of flxed a88•1• At 88ch reportlng end dalè, lh6 charlly rpvkn thè c8rrylng 8mounls of Its lawlble asse15 to d¢tormln• whether there Is any Indtcalion that those assets have 5uffèr8d an impaimient hJGS. 11 any such indiGalk>n exl81s, the recoverable amount of th$ o$¥?1 IB a611maled In order to delamiin& th extonl of the impalnnant loss lif anyl. 1A ¢•¥h and u•h •qulval•nls CAsh And ea6h equlvalén18 Includ8 ¢88h in halld. dèpo8118 held at call with ba, other 8hort.t8mi Ilquid Investments wlth orlglnal malurilte$ of three rnonlhs or ie8s, and bank overdrafts. Bank ovordrafts are shown wlthln boThowings irs ¢urr8nt Ilabllitiè¥. 13
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ountlNg policles IContlnud} 1.9 Flnon¢lal In8trumgnts The charfty hes el8ctèd to #ppfy th8 prov161ons of Section 11 '8wsl¢ Flnancial Inum•ntJ' and Soction 12 'Oth¢r Flnanual Instruments 18$uès' of FRS 11)2 to all of its financial inBlrurnenl5. Flnenclal Instruments are recx)gni8ed in the ¢haflty's balance sheet when Iho charfty beoomo8 party lo Iha contradual prov151ons ol the in$lrumenl. Fln4nd81 o$89ts and IIBbllkties ore offyÈl, wllh the not amounts pre8ènt6d In the kn&ndal slalements. when there Is 8 legAlly ènforce8blg rtyht to 8et off th9 recognlsed amounts ond Iharo 1$ arnkntgntlon lo settlg n9t ba85s or to realise the asget and 8ettle thè118bility $irnultaneously. Basle linanclal assets Basie financial assets, whlch includ& d¢blor9 And cash 8nd b8nk bal8neès. gre Inlli8lly mÉÈ$urtrd at Irans8cllon prtce Includlng Iransactlon cDgt$ gnd subsequently rrIed al am¢rtrf•d cosl u$inE the effo1v0 intere81 method unle$s th• 8rran9ement r¥)n5tllul69 a tlnanclng Irgn89¢tlon. where th8 tran89¢tlgn Is m•asuiÉd al Ihe present v8lug of th9 lulure reIp1S dl8Gounled al a market rata rflnterest. Fh8ndal assèts ¢la8sified as r8c&bv8ble within one year are not amtsrtised. 88&le flnaneialllabllltles Baslc Inancial liabilbtie6, indudlnq ¢redllors and bank loans are Inlllalty recogni$8d 81 Irat)8acllon pr1¢& unleB$ tho airanggmtrnt constllulos a Inanclng Iransa¢tiDn, wher& tha d8bl inslfumenl Is mt8sured al th8 preeenl V8lu• of the fvlure payment$ dls¢ount8d at a malkel rula of Inl?ro$1. Flnanclal118Wrfes cla5slfled 98 payhble within gne ytsar ar8 not amortised. Dèbt in$lNments ar• subsequenlly caitiad 01 amortls8d cost, uslng IhÈ éffediv¢ Intwest rÈt¢ mfrthod. Tradè credrtor5 a obligations lo pay for goods or services that hAvè been acqu1r in Ihe ordlnary eourse ol OPor8llon$ from supplior8. Amounts paygblÈ Bre d9$8117gd as eurronl liabllllie8 If Yent 18 du? withln on y8ar or less. 11 not, Ih*y arp pr8s8nt8d as noTrcurrenl liabllitlos. Trede creditors ar8 r8cognls8d Inrflolty 01 Ir8nsacllon prfco and 6tsb$èquonlty mg8$ursd al anv)rt18ed cost using gff•cllvè th1O$1 melho(l. Derécognluon of fln4n¢lal Il¥bllltlg5 Flnanclal Ilabllllles are derg¢ognlsed when the charily'8 CtsEilratiual obllgatlons e>yire or are di$¢hargad or oncg11od. 1.10 Employ•• bgn•flts The usl of 8ny unused hollday enllllernenl 18 rglsed In the perk)d In whith IhB employe&'8 serviceB are rècèived. rermlnation beneffts arg rewgnlsed Immedlalely as on ttxpense wh8n the Charity kn demonstrably eommrtted lo terrnlnata tho employrnènl of an tmployaè or to prOe lermlnallon ben8fi1s. 1.11 R•tlrem•nt beneflts Payrnent8 to dennèd tontdbutlon retlr8monl benefrt 8¢hèm88 8r8 charped as an exFn$e as they fall due. 1.12 Grants for capltal expendllur• Grallls roc8lv•d as & corstrlbuuon toward$ tha capltal costs of o $¢h8mg ar8 lho1 in tha flxerl o$set note8. VVhèr• piopgrties arè Included gt h181orlcal ¢081, tho lolal orant recelvabla18 doduchl trom the COBI of hou81ng propertles. 14.
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Donatsona and lega¢le# Unro9tr4ctsd RèBtrtded fund8 nd6 Total Unroslridèd R¢strlcled fund$ funds Totsl 2023 2023 2023 2022 2022 2022 Don9tions ond glft$ Support 8t8ff $alary- don3llons 27.780 29,183 5e,929 18,820 2,448 19,266 84.593 04.593 101,000 101.000 27.768 93,756 121,S22 10.820 103,448 120,286 15-
111111" 811
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 othèr Incorn• Unre81rlGtgd Unrg8lrfct8d furtd6 fundB 2023 2022 oth#r in¢0¢ 1,936 1,382 charItab act5VIÈs 2023 2022 Staff costs Loan inièrèÈt Renl and r8les In8ur8n¢8 Llchl and tr881 Gèner81 paIrS and Tllalnlenance Cydi¢81 mainienance Equlpment rnalnlenanco Moier and travel èxpens8s Gon8ral admln penseS Houslng ¢08ts Tralning and recrullment Fundr3i8lng and publlclly Consum8bl85 Release ol grAnl income Depie¢latlon Bad debt6 Oth¥r chgrllabl8 expèndllure 557,024 13,547 19,934 12,847 31,645 27,445 12,831 15,385 313 11,650 13.521 5.181 17,380 40,169 (49,7451 66,12e 24,978 13,941 513,596 3,896 57,266 12,008 26,446 17,546 2,401 13.531 147 12.071 13.B52 5,005 14,801 28.901 (29.121? 34.626 28,909 20,312 834.382 774.191 834.382 774,191 An#lysls by fund Unrestilcled fvnds Rèsfficled ndÈ 726,724 107.858 689.188 85.025 8Y.382 774,191 Olhar chaTitable 8xpense8 Indud$$ remunetatlcfi pald for an Independ8nl eXsn*T of £3,eoo p022 £3.1001. 17.
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Board No m•mber ol tho Bogrd w010 in receipt ol expens98 or romunèr8tEon durSng th• y•r. Employ¥ The averogg monthly numbar of omployees durfng the yèarwas.. 2023 Numb•r 2022 Numb•r Dlrecl charllabie art1118$ Admlnlstratlon 20 19 Total 23 22 Employmgntco¥ts 2023 2022 W#g¢8 #nd 69larte8 SoeAal Bacurily Gosts Other pen51on cost8 501.877 40,652 14,495 4e7,800 35,259 10,537 557,024 513.596 Th&ro ww¢ 8mployeas who8& annual remunerabon was mor• than £60,000, T•x•tlon The cornpany has charllable $18lus and no ILqbSTityto 18xallon art5è8 from 11$ aclivltlB¥. 18-
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tanglbts fixgd a8setg Frgehold Frgohold prop•ty Improv•m•ntB F1xluT•Si flttlno8 & 04ulpmont Totsl Cost At 1 April 2022 Addition8 1.217.501 48,812 438,807 14,225 250.745 26.591 1.907.053 87,628 Al 31 Mtsh 2023 1.264,313 453,032 277,336 1,994.881 D8preclatlon ond Impalrnient Al 1 April 2022 Deprecittlion ¢haro8d in the yèar 5.360 25.355 193,003 21,340 156,197 19,430 354.580 86,125 Al 31 Morch 2023 30,715 214,343 175,827 420,e85 Carrylng amount Al 31 March 2023 1,233,598 238,689 101.709 1,573,996 Al 31 hrtaTch 2022 1,212,141 241,290 94,549 1,552,495 Freehold Improvement relmlgs lo Park View. These expèn¥e$ were illcuN$d prfor ts ooqulrlng Park Mew. Thlo wlll bg deprèd&t8d over the Irf? of th8 bulldlng. 10 Grant• and donltloni Cosl Al 1 Aprll 2022 Additions R¢leased 11,125,964) 87,4291 49,745 Al 31 March 2023 {1.163,6481 Carrylng amount At 31 Mart¢ 2023 11,163,e48} Al 31 Moreh 2022 {1,125,964} 19-
ST ANNE'S HOSTEL NQTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 D•btors 2023 2022 Amounts folllno duo wlthln one yoar: Trade debto PrepaymÈnts 8nrl accrued income 3S,588 12.257 30.237 9,465 47,845 39,702 12 Loans And overdrafts 2023 2022 Bank loans 221,674 241,230 Payable wilnln one year Payable after one year 21,745 199,929 20.869 220.3e1 On 21 October 2021, a ffixod ¢h8rg8 ovèr Ihg freghold property was registered wllh Tha Charlly Bank. 13 Crodltors: amounts falllng duo wlthln onè year 2023 2022 BBnk108n$ Other18X8tlon and Boclal 8gcuIHy Trad• credttors Olh¢r credltors Awu4ls and deferred incomè 12 21,745 8,811 6.405 59,198 21.485 20,889 9,954 6,406 43,363 7,939 117.644 86,531 14 Credltorn: amounts hlling du• after mtsrè than one year 2023 2Q22 Nots8 B4nk loanB 12 198,929 220,381 -20-
ST ANNE'S HOSTEL NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2Q23 15 RoStriGtsd fund8 The Income fundg ol the ¢harity Includ8 restrfcted funds comprtslng the followln9 unoxpended bal8n¢es ol donallon& 8nd grant$ held on Iru$l for 8p8cbfic purpo$8S'. ovèment In fund• Movemèntln fund¥ Intomlnq Ro$our¢oJ Balan¢• at •xponded 31 MaTeh 2023 8al&n¢o tyt 1 Aprll 2D21 oxp&nd•d 1 Apdl 2022 Courtyard projèct Support slaff $al81ie8 Pet Support Wndow R8fytorallon Park Vlew Move on residents Arts & Crafts Bond S¢h8mo Warm room 0,712 3,282 <8.2001 4.794 11,9861 3,708 116.724 642 101.000 900 181,4781 12241 136,248 1,318 84.593 800 1103,7911 11631 97,050 1,95S 10 148 100 100 4,318 11481 18.192 113,8741 1,250 4,281 1,250 7.548 1,250 11.137 5,048 11.7591 8,903 13,3141 9,760 9.780 9,750 1,978 2,368 {3901 142,587 110,228 191,8071 161.008 93.756 1123.518) 131.248 18 Dos1gnJtsd funds Thg inwne fvnds ol the tharfty Include tho foll¢)wing d88ignAted funds whkh ha¥e s81 aside out of unreslriGtod fund8 by the Iwstaes for specific purposes.. Mov•mont In lundg Incomlnq Bobn¢o at r••ourr&s $1 March 20Z3 Tran¥fvr• Bol&nce at 1 Aptll 2ri22 l Aprfl 2021 Cy¢51cal malntananca 16,445 114011 14,Q44 14,044 16,445 12.401} 14,044 14,044 Th9 Dasl9n8ied Funds brought lomard Telalèd to amounts $¢t asid¢ lo cr cydicol malrntenance ¢xptndilure In the futur• 21
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Analygls of net a$$ats be**n fundg Unrgstrlcted Re8trl¢tgd 2023 2023 Totsl Unr•8trlct•d Restrlctgd 2023 2022 2022 Totsl 2022 Fund balances 8t 31 M8r¢h 2023 are repr88enled by.. Tanglble assèts Inve$lm•n(8 Cuffenl 88get(lI&bIlltI6$) Long torrn liablliliel 1.573,996 11.163,6481 139,5831 1199,9291 1,573.998 1,552,495 {1,163,8481 11,125,964) 91,883 11,595) 1199.9291 {220.3611 1,552,495 {1,125,9641 169,413 1220.3811 131,246 181.008 170,85e 131,248 302,102 204,575 161,008 365,583 18 Capltsl ¢ommltmonts Tho comp8ny has no capltal commilmtnl 0$ al 31 Mar¢h 202312022..ÈOJ 19 Ev•nt8 aftor the r•portlng date In Sapl8mb6r 2023. 81Tmlngham Clly Council has Issued 0 8e¢tl¢n 114 nolloe, • odmls6lon that ft Gannol manage Ils fin•n¢ig1 crlsls wilhoul h$lp, Thls declslon was made as tha coundl a gap of £87 million betweén Income and expendSlur8 for the 2024r25 financial year. The govornmont has appulnt•d Comml8sloners to t8ke over Blmilngham City ¢0ClI. Comml$8lono would bè In charye of the eouncifs Inanclal governanc8 ¥nd $crUnY. As per Sectlon 114, no new fyxpendllurg l¥ pemiSttod. Thero arg exceplltsns for thndlng slalulory 8èNl¢e8, Includlng 8afegu8rdlno vulnerablè paople, end oxlsting commttm8nts ond Contracts wlll contlnuo lo b& honoured. occordlng lo Iha Local Governrnonl Flnance A¢1 1988, Section 114131. 20 R•l•t•d party tran8a¢tlon8 Th8r8 were no dSs¢losable relglad party Iran$aclions durhg th? yaar (2022- nonè). 21 fA8h gèn•rated from oporallo 2023 2022 D8flclt lorlhe year {63,4811 1893} AdSuElments for.. Galn on dSsposal of langlbl¥ fixod a8sei8 Depreclallon and impairmenl of tangible flxed assets 129.1211 34.625 88,126 Mov8men16 In wgrting capltal-. {Incr6asel in dèbtor$ Increa8elldeGfe8$e} In crodito (8.1431 26,238 112,3881 (6841 CaBh 9gn•rnted fronVlab¥orb•d byl opèratlons 22,740 {8,7411
ST ANNE'S HOSTEL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2Q23 22 Analy8lB of changes In net Idgbtllfund8 At l Aprll 2022 ¢•8h ftowsAt31 March 2023 Cash at bank #nd In hand 208,242 {48.7601 161,482 Loans falllng due within one year Loans falllng due •fter moro than one year 120,8691 1220,3e11 18761 20,432 121,745) 1199,9291 132.9881 (27,2041 180,1921 -23-